Valuation: On a Cash PER basis (i.e. removing non-cash...

Valuation: On a Cash PER basis (i.e. removing non-cash plantation revaluations) you are looking at a PER of around 20x over the next 5 years, with earnings to decline beyond FY18 given the expected harvest profile.
Stockmarket risk: will global markets decline over the next few years?...I think the odds are rising

So if you can hold onto the stock for a decade then load up, but I think you might get a better buying opportunity in 2-3-4 years time